Friday, December 18, 2009

This is an unofficial list of Problem Banks compiled only from public sources.

NOTE: This was compiled prior to the bank failures today.

Changes and comments from surferdude808:

The OCC released its actions for November, which contributed to an increase in the number of institutions and aggregate assets on the Unofficial Problem Bank List. The list includes 551 institutions with aggregate assets of $305 billion, up from 539 institutions with assets of $298 billion last week.

This week, 15 institutions with total assets of $8.1 billion were added to Unofficial Problem Bank List. Large additions include Riverside National Bank of Florida, Fort Pierce, FL ($3.5 billion); First Community Bank, National Association, Sugar Land, TX ($855 million); Beach First National Bank, Myrtle Beach, SC ($646 million); and First Bank Richmond, National Association, Richmond, IN ($637 million).

Two weeks ago, we removed Riverside National Bank, First National Bank of the Rockies, and First National Bank of Griffin and, last week, we removed Beach First National Bank, when the OCC terminated their Formal Agreements. As mentioned then, the OCC may replace the terminated Formal Agreement with another action; hence, this week these four banks come back on the list as they are now under a Consent Agreement.

The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay, and the Fed and OTC data is more timely. The OCC data is a little lagged. Credit: surferdude808.

Note: The FDIC announced there were 552 bank on the official Problem Bank list at the end of Q3. The difference is a mostly a matter of timing - some enforcement actions haven't been announced yet, and others may be pending.

See description below table for Class and Cert (and a link to FDIC ID system).

The FDIC assigns classification codes indicating an institution's charter type (commercial bank, savings bank, or savings association), its chartering agent (state or federal government), its Federal Reserve membership status (member or nonmember), and its primary federal regulator (state-chartered institutions are subject to both federal and state supervision). These codes are:

N National chartered commercial bank supervised by the Office of the Comptroller of the Currency

SM State charter Fed member commercial bank supervised by the Federal Reserve

NM State charter Fed nonmember commercial bank supervised by the FDIC

SA State or federal charter savings association supervised by the Office of Thrift Supervision

SB State charter savings bank supervised by the FDIC

Cert: This is the certificate number assigned by the FDIC used to identify institutions and for the issuance of insurance certificates. Click on the number and the Institution Directory (ID) system "will provide the last demographic and financial data filed by the selected institution".